Wendover Housing Partners Breaks Ground on $16.3M Affordable Housing Community in Sanford, Florida – REBusinessOnline

SANFORD, FLA. Wendover Housing Partners, an Altamonte Springs, Fla.-based multifamily developer, has broken ground on Monroe Landings, a $16.3 million affordable housing community in Sanford. Wendover received $11.5 million in tax credit equity, $1.3 million from partner Orlando Housing Authority and a $2.8 million permanent loan from Neighborhood Lending Partners. Roger B. Kennedy Construction is overseeing the construction of the community.

Located at 375 Oleander Ave. in Sanford, Monroe Landings will be a 60-unit, multifamily community with one-, two- and three-bedroom units. Community amenities will include a clubhouse with a gathering area and fireplace, resident computer center, pool, tot lot, gazebo with picnic tables, outdoor grills and a community gardening area. Rent is expected to start at $766 per month for one-bedroom units, $908 per month for two-bedroom units and $1,041 per month for three-bedroom units. Wendover expects to move residents in by the end of 2021 or beginning of 2022.

In November 2013, HUD demolished an existing affordable housing community at the site after being deemed uninhabitable. Several hundred residents were displaced at the time the community was demolished. Wendover will offer the former residents the option to live at Monroe Landings when completed. The property will serve as the first phase of development for the revitalization of the Goldsboro neighborhood, being the first large-scale development there in more than 20 years.

In addition to Monroe Landings, Wendover currently has three other affordable communities in the development pipeline in Central Florida, as well as four affordable active communities.

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Wendover Housing Partners Breaks Ground on $16.3M Affordable Housing Community in Sanford, Florida - REBusinessOnline